We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
Comment: The nature of the ADAS model based on the ISLM model.
- Authors
Boyd, Derick
- Abstract
Rao suggests that the Rowan demand curve does not exist but that result is obtained through treating the system as a simultaneous equation problem that will inevitably obtain the standard aggregate demand (AD) result. The Rowan procedure is a conditional function that makes planned AD conditional on planned aggregate supply (AS)—a quintessential Keynesian process. This results in an AS-dependent AD curve that is upward sloping. This system can be shown to be stable, have a firm connection to measures of national income accounting without dependence on notions of equilibrium and implications for econometric estimations.
- Subjects
KEYNESIAN economics; NEOCLASSICAL school of economics; AGGREGATE demand; SUPPLY &; demand; SIMULTANEOUS equations
- Publication
Cambridge Journal of Economics, 2010, Vol 34, Issue 3, p587
- ISSN
0309-166X
- Publication type
Opinion
- DOI
10.1093/cje/bep052